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Shopify UAE

Shopify UAE is an e-commerce platform that allows individuals and businesses to create their own online stores.

Unlike e-commerce solutions developed in open source (e.g. Prestashop or Magento) this system is entirely based on operation in SaaS mode.

Shopify History

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand, and Scott Lake following the creation of the online store Snowdevil, a snowboard equipment store. Lütke, a programmer, unable to find transactional site construction software to build his site according to his needs, decided to build his own site construction software. Lütke explained his decision in these terms: "After trying a series of online store software, I was so disgusted with the quality of the results, that I wanted to do something better just to piss them off."

Lütke designed a custom store using what was then an obscure open-source platform called Ruby on Rails. After two months, he had an operational online store and Snowdevil was launched. In 2006, the founders decided to share their code to help others sell items online. Lütke then created a model in which future sellers only had to insert photos and descriptions of their products to create their online stores. Shopify was born in June 2006. Lütke describes his product as follows: "what used to take months in 2004 can now be done in around 20 minutes".

After its launch, Shopify used blogging and word of mouth to market itself. She also used a series of Build-a-Business contests to attract customers, with the help of entrepreneurs, bloggers, and mentors well known to the public, such as Tim Ferriss, Gary Vaynerchuk, and Mark Cuban. Shopify is now in its 7th edition of the competition.

The number of employees in the company increased from 40 in 2010 to 140 in 2012 and to 300 in December 2013. The company claims to be profitable since 2008.

On December 12, 2010, Shopify announced that it had received $ 7 million in Series A financing. The company wanted to use this money to accelerate product development, international expansion, infrastructure deployment, and acquisition of development tools.

On October 17, 2011, Shopify announced that it had secured $ 15 million in Series B financing. The company wanted to use this money to hire more staff, make acquisitions, and attract application developers to create plug-ins for the Shopify App Store.

In December 2013, according to The Globe and Mail, Shopify raised $ 100 million in Series C funding from OMERS Ventures and Insight Venture Partners.

In 2013, the company had 80,000 customers, processed $ 1.6 billion in customer sales, earned $ 50 million in revenues, and was valued at $ 1 billion.

In 2015, the company had more than 243,000 customers worldwide (including 1,000 Shopify Plus customers) and had sales of $ 205 million for a sales volume (GMV) of $ 7.7 billion.

In 2019, Shopify [archive] had 800,000 customers, processed $ 100 billion in sales for its customers, and a team of more than 4,000 employees
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